Qatar Construction Market to Grow at CAGR of 7.27% during 2017-2021 Feb 2017 | Page 2

Construction Market in Qatar Key Trends and Opportunities to 2021

Qatar ’ s construction Market registered notable growth during the review period , mainly driven by public sector investments in construction projects . These investments were part of the National Development Strategy 2011-2016 , under which the government invested over QAR455 billion ( US $ 125 billion ) in various large scale construction projects . Qatar Construction Market ’ s output value in real terms increased at a compound annual growth rate ( CAGR ) of 17.81 % during the review period , and is expected to record a CAGR of 7.27 % over the forecast period .
Under QNV 2030 , the government is developing a new city , which will have the capacity to accommodate a population of 450,000 . The city is being constructed on an area of 38.0km2 , 22.0km to the north of Doha . The project comprises 19 mixed-use residential , commercial and entertainment districts , including 25,000 residential buildings , 22 hotels , a 20-story building called Business Square and more .
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